© IE Online Media Services Pvt Ltd
Tags:
Journalism of Courage
— Nirbhika Sachdev
For any undergraduate student aiming to pursue a degree in finance, the University of Chicago (#21) and New York University’s Stern School of Business (#43) are two very strong options with unique characteristics that may push an incoming international student toward one or the other. Now, let’s dive into the comparison based on course structure, scholarships, admission processes, extracurricular activities, and many more.
One of the strong fields within the Economics major at UChicago is finance, known for its rigor and analytics. Accordingly, the core elements of this field are based on foundational theories, quantitative methods, and practical applications. Major requirements include Corporate Finance, Investments, and Financial Instruments. The intense course load guarantees numerous possibilities for course customization on individual grounds that are tied to personal interests and career goals. In the class of 2024, UChicago increased its offerings in interdisciplinary courses that marry economics with data science and machine learning, preparing students for changes in the finance landscape.
NYU Stern Undergraduate Program — BS in Business with a major in Finance: Some of the core courses, in this case, are Financial Management, Global Economy, and Investment Banking. The location of the NYC financial district means real-world applications are often woven into the curriculum at the Stern School. Experiential learning opportunities are built into the program through the Stern Program for Undergraduate Research, SPUR, and international study programs. Abiding with current trends in the industry, the current offerings from Stern were expanded to fintech, sustainable finance, and global financial regulation courses in 2024.
A range of merit-based scholarships is available to international students at UChicago, such as the Odyssey Scholarship Program. Need-based financial aid is also designated to ensure that financial barriers never impede education. Some of them, like the Neubauer Family Adelante Program, are initiated to demonstrate a deep commitment to inclusivity and diversity. In 2024, UChicago increased the budget for financial aid for international students.
NYU Stern hosts many scholarships available to international students, such as the Stern Merit Scholarship and the AnBryce Scholarship, for outstanding applicants from underrepresented backgrounds. It also has packages that bundle need-based and merit-based aid. In the class of 2024, NYU Stern introduced new scholarships to increase diversity in finance.
UChicago’s admissions process is highly competitive, seeking candidates with strong academic backgrounds, intellectual curiosity, and leadership potential. Requirements include high school transcripts, standardized test scores (SAT or ACT), TOEFL or IELTS scores for non-native English speakers, essays, and recommendation letters. For 2024, UChicago made standardised test scores optional, emphasising a holistic review.
NYU Stern’s admissions process focuses on academic excellence, professional achievements, and personal characteristics. International applicants must submit high school transcripts, standardized test scores (SAT or ACT), TOEFL or IELTS scores for non-native English speakers, essays, and recommendation letters. Unique to Stern is the “Pick Six” visual personal expression essay. In 2024, Stern introduced a new video essay component to assess applicants’ communication skills and personality.
UChicago offers a vibrant student life with over 400 student organizations, including finance-related groups like the UChicago Investment Banking Group and the Blue Chips Finance Club. The university’s career services and networking opportunities connect students with leading finance professionals. International students can join the International Students Association and other cultural clubs to ease their transition and enrich their experience. In 2024, UChicago introduced more virtual engagement opportunities connecting international students with global alumni and professionals.
Located in NYC, Stern students have unparalleled access to internships and networking opportunities within the finance industry. The school hosts over 40 student clubs related to finance, including the Investment Analysis Group and the Stern Private Equity Club. Events like the Stern Investment Management and Research Conference provide invaluable insights and connections. International students benefit from the International Student Support Center and cultural clubs. In 2024, Stern expanded its mentorship programs to include more international alumni mentors.
Situated in Chicago, UChicago students benefit from the city’s diverse financial ecosystem, home to major firms and financial institutions. The university’s strong alumni network in finance provides extensive networking opportunities globally. Chicago’s relatively lower cost of living compared to New York City is an added advantage for international students. In 2024, UChicago strengthened its global networking events, connecting students with finance professionals worldwide.
NYU Stern’s prime location in New York City, the world’s financial capital, offers students direct access to Wall Street and numerous financial firms. The proximity to major financial institutions allows for frequent guest lectures, corporate visits, and internships, giving Stern students a significant edge in networking and job placements. NYC’s vibrant multicultural environment is particularly appealing to international students seeking a global experience. As of 2024, Stern enhanced its industry partnership programs, providing students with even more internship and job placement opportunities.
Both UChicago and NYU Stern offer top-tier undergraduate finance programs with unique strengths. UChicago’s analytical rigor and flexible curriculum appeal to those seeking a strong theoretical foundation, while NYU Stern’s practical approach and prime NYC location cater to students looking for real-world experience and extensive networking opportunities. Prospective international students should consider their career goals, preferred learning style, and desired environment when choosing between these two exceptional programs.
(The writer is an Associate Partner at Athena Education)
